Apparatus and methods for providing a payment system over a network
First Claim
Patent Images
1. A method for processing a payment and a disbursement at an accumulator over a network, comprising:
- receiving employee information corresponding to an employee from an employer via the network, wherein the employee information comprises payment information and disbursement information;
verifying the employee information using verification information received from an intermediary that is distinct from the employer;
processing, via electronic funds transfer, a payment based on the payment information via the network by;
generating a debit based on the employee information, andsending the debit to a financial clearinghouse via the network; and
processing, via addendum-based electronic data interchange, a disbursement based on the disbursement information via the network by;
sending a credit from the financial clearinghouse to a financial institution associated with the intermediary; and
applying the credit to an account of the intermediary at the financial institution.
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Accused Products
Abstract
Apparatus and methods provide an accumulator that processes electronic payments from an employer to a recipient via a network. The payments processed may be, for example, child support payments collected from an employee by the employer. The employer may submit one transaction made up of payments collected from multiple employees bound for multiple recipients and the accumulator may receive, translate, batch, and deliver the payments to the multiple recipients. The accumulator, employers, and recipients may communicate via a network such as the Internet.
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Citations
32 Claims
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1. A method for processing a payment and a disbursement at an accumulator over a network, comprising:
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receiving employee information corresponding to an employee from an employer via the network, wherein the employee information comprises payment information and disbursement information; verifying the employee information using verification information received from an intermediary that is distinct from the employer; processing, via electronic funds transfer, a payment based on the payment information via the network by; generating a debit based on the employee information, and sending the debit to a financial clearinghouse via the network; and processing, via addendum-based electronic data interchange, a disbursement based on the disbursement information via the network by; sending a credit from the financial clearinghouse to a financial institution associated with the intermediary; and applying the credit to an account of the intermediary at the financial institution. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A system for processing a payment and a disbursement at an accumulator over a network, comprising:
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a first receiving component configured to receive employee information corresponding to an employee from an employer via the network, wherein the employee information comprises payment information and disbursement information; a verifying component configured to verify the employee information using verification information received from an intermediary that is distinct from the employer; a first processing component configured to process, via electronic funds transfer, a payment based on the payment information via the network, including; a generating component configured to generate a debit based on the employee information, and a first sending component configured to send the debit to a financial clearinghouse via the network; and a second processing component configured to process, via addendum-based electronic data interchange, a disbursement based on the disbursement information via the network, including; a second sending component configured to send a credit from the financial clearinghouse to a financial institution associated with the intermediary, and a first applying component configured to apply the credit to an account of the intermediary at the financial institution. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30)
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31. A computer readable medium having computer readable code embodied therein for processing a payment and a disbursement at an accumulator over a network, the computer readable code comprising:
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a receiving module configured to receive employee information corresponding to an employee from an employer via the network, wherein the employee information comprises payment information and disbursement information; a verifying module configured to verify the employee information using verification information received from an intermediary that is distinct from the employer; a first processing module configured to process, via electronic funds transfer, a payment based on the payment information via the network, including; a generating module configured to generate a debit based on the employee information, and a first sending module configured to send the debit to a financial clearinghouse via the network; and a second processing module configured to process, via addendum-based electronic data interchange, a disbursement based on the disbursement information via the network, including; a second sending module configured to send a credit from the financial clearinghouse to a financial institution associated with the intermediary, and a first applying module configured to apply the credit to an account of the intermediary at the financial institution.
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32. A system for processing a payment and a disbursement at an accumulator over a network, comprising:
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means for receiving employee information corresponding to an employee from an employer via the network, wherein the employee information comprises payment information and disbursement information; means for verifying the employee information using verification information received from an intermediary that is distinct from the employer; means for processing a payment, via electronic funds transfer, based on the payment information via the network, including; a generating means configured to generate a debit based on the employee information, and a first sending means configured to send the debit to a financial clearinghouse via the network; and means for processing a disbursement, via addendum-based electronic data interchange, based on the disbursement information via the network, including; a second sending means configured to send a credit from the financial clearinghouse to a financial institution associated with the intermediary, and a first applying means configured to apply the credit to an account of the intermediary at the financial institution.
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Specification